Car insurance comparison can help people understand that using third party car insurance to save money might not lead to cheap premiums. A research conducted by a car insurance company has revealed that the third party insurance can be quite expensive for people even though it offers low cover levels. On the other hand, the full comprehensive insurance policy offers high levels of cover with low premiums.

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The head of the insurance company said, “Traditionally motorists assumed a third-party only policy would be cheaper because of the reduced levels of cover.” Many drivers, especially young drivers, these days go for third party car insurance coverage to lower their motoring cost low. Car insurance companies have increased the third party car insurance cost considering the risk involved with young drivers.

The research had found out that the third party insurance covers £1,927 annually on an average while the coverage by comprehensive insurance is £922 on an average annually. There is a remarkable 109% difference. The third party proves to be much more expensive to the motorists as compared to the fully comprehensive coverage policy.

Drivers above the age group of 40 years could witness a huge difference between the comprehensive coverage and the third party coverage as much as to 161 per cent. The premiums for the third party insurance coverage might cost £1,600 when compared to £613 of comprehensive coverage insurance policy on an average.

At times, third party car insurance can be twice the comprehensive insurance cost. Third party does not take care of the damage to your vehicle at the time of the accident if the accident was because of your fault. It only covers the damage incurred by other vehicle because of you. The research reveals that the third party only insurance cover is the priciest insurance options for the drivers. Use car insurance comparison to know about the third party insurance schemes.